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Singapore's GST Hike Essential for Healthcare Funding, Says Wong

2/26/2026

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Summary

Story summary

Lawrence Wong (Prime Minister of Singapore) addressed concerns about the GST hike from 7% to 9%, noting that it funds permanent healthcare needs amid a projected S$15.1 billion budget surplus for 2025.
Wong said the GST increase is essential despite rising corporate tax revenues.
Wong also pledged a balanced budget and clearer fiscal accountability, with updated projections by 2027.

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Story summary

Lawrence Wong (Prime Minister of Singapore) addressed concerns about the GST hike from 7% to 9%, noting that it funds permanent healthcare needs amid a projected S$15.1 billion budget surplus for 2025.
Wong said the GST increase is essential despite rising corporate tax revenues.
Wong also pledged a balanced budget and clearer fiscal accountability, with updated projections by 2027.